The Business of Good Foundation
The Business of Good Foundation is a private grantmaking foundation based in Ashtabula, Ohio. Established in 1997 by Tim and Alice McCarthy, the foundation originally operated as Free Hand, Inc. before adopting its current name in 2009. The foundation operates as a 501(c)(3) organization and has been tax-exempt since January 2002.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$12.8M
-2.2% YoY
Annual Giving
$1.7M
+17.5% YoY
Grant Count
12
+20.0% YoY
Avg Grant Size
$138K
-2.1% YoY
Mission & Focus Areas
The foundation's mission is to "serve those who serve the poor" through hands-on capacity building efforts. It advances equality of opportunity through education and entrepreneurship, with a focus on building self-esteem and personal empowerment among economically and socially disadvantaged populations.
The foundation's primary program is an executive coaching and consulting program that supports nonprofit leaders and social entrepreneurs in northeast Ohio who are committed to building the self-esteem and empowerment of the economically disadvantaged.
Grantmaking
The Business of Good Foundation operates exclusively through long-term partnerships with pre-selected program partners rather than accepting unsolicited grant proposals. The foundation does not maintain an open application process.
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking is concentrated in northeast Ohio, with particular emphasis on the Ashtabula area. Historical grants have been distributed to organizations in Ohio, New York, and North Dakota.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending December 2024:
- Total Assets: $12.8 million
- Total Revenue: $957,055
- Total Expenses: $1,844,146
- Total Liabilities: $214
- Net Income: -$88
Historical Growth:
- Total assets have grown from $178,000 in 2015 to $13.1 million in 2023
- Annual giving has grown from $558,000 in 2020 to $2 million in 2022
- Total giving (2024): $1,652,927
The foundation has invested over $10 million plus thousands of volunteer hours since its founding.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $12,779,626 | $13,064,075 | $13,491,647 |
| Revenue | $957,055 | $254,502 | $166,707 |
| Expenses | $1,844,146 | $1,632,879 | $1,086,126 |
| Qualifying Distributions | $1,803,831 | $1,579,133 | $1,049,937 |
| Net Investment Income | $904,450 | $403,038 | $254,685 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
82 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Sea Change Incorporated ($510,000), America Mentors ($330,000), Park Place Non-profit Center ($318,824).
| Recipient | Purpose | Amount |
|---|---|---|
| ASHTABULA DOWNTOWN DEVELOPMENT ASSOCIATION ASHTABULA, OH | GENERAL OPERATIONS | $500 |
| BIRTHRIGHT INC MENTOR, OH | GENERAL OPERATIONS | $10,000 |
| ASHTABULA COUNTY COMMUNITY ACTION AGENCY ASHTABULA, OH | GENERAL OPERATIONS | $500 |
| AMERICA MENTORS COLUMBUS, OH | GENERAL OPERATIONS | $330,000 |
| ASHTABULA COUNTY DISTRICT LIBRARY FOUNDATION INC ASHTABULA, OH | GENERAL OPERATIONS | $5,000 |
| ASHTABULA RIVER FOUNDATION ASHTABULA, OH | GENERAL OPERATIONS | $189,303 |
| NEO FUND ASHTABULA, OH | GENERAL OPERATIONS | $276,750 |
| PARK PLACE NON-PROFIT CENTER ASHTABULA, OH | GENERAL OPERATIONS | $318,824 |
| SEA CHANGE INCORPORATED COLUMBUS, OH | GENERAL OPERATIONS | $510,000 |
| GENEVA FOOD PANTRY GENEVA, OH | GENERAL OPERATIONS | $1,750 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Stuart W. Cordell – President (15 hours/week, $39,000 compensation)
- Andrea Bushweiler – Treasurer (15 hours/week, $25,000 compensation)
- Brad Roller – Director (2 hours/week, $0 compensation)
- Alice McCarthy – Director (2 hours/week, $0 compensation)
- Timothy P. McCarthy – Director (2 hours/week, $0 compensation)
The foundation is governed by 5 officers and trustees and operates with 2 employees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BRAD ROLLER | DIRECTOR | 2 | — |
| ALICE MCCARTHY | DIRECTOR | 2 | — |
| TIMOTHY P MCCARTHY | DIRECTOR | 2 | — |
| STUART W CORDELL | PRESIDENT | 15 | $39,231 |
| ANDREA BUSHWEILER | TREASURER | 15 | $24,548 |
Contact Information
- Website: www.thebusinessofgood.org
- Address: P.O. Box 2838, Ashtabula, OH 44005
- Phone: (440) 964-5541
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Business of Good Foundation fund?
The foundation's mission is to "serve those who serve the poor" through hands-on capacity building efforts. It advances equality of opportunity through education and entrepreneurship, with a focus on building self-esteem and personal empowerment among economically and socially disadvantaged populations. The foundation's primary program is an executive coaching and consulting program that supports nonprofit leaders and social entrepreneurs in northeast Ohio who are committed to building the self…
How do I apply for a grant from The Business of Good Foundation?
The Business of Good Foundation operates exclusively through long-term partnerships with pre-selected program partners rather than accepting unsolicited grant proposals. The foundation does not maintain an open application process. **Grant Activity:** • Typical grant awards range from $500 to $510,000 • Median grant amount: $9,000 • The foundation made 12 grants in 2024 • Historical grant activity shows 71 grants totaling $3.2 million across available records • Individual grants have ranged fro…
Where does The Business of Good Foundation make grants?
The foundation's grantmaking is concentrated in northeast Ohio, with particular emphasis on the Ashtabula area. Historical grants have been distributed to organizations in Ohio, New York, and North Dakota.
What size grants does The Business of Good Foundation award?
In 2024, The Business of Good Foundation awarded 12 grants totaling $1.7M — an average of about $138K per grant, based on its IRS Form 990 filings.
What is The Business of Good Foundation's EIN?
The Business of Good Foundation's EIN (Employer Identification Number) is 34-1973248. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Business of Good Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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